TAMPA, FL--(Marketwire - February 09, 2010) - Stem Cell Therapy International, Inc. (OTCBB: SCII) announced that Dr. Hoon Han has been elected Chairman of the
Company's Board of Directors effective immediately.
The Company also announced the resignation of Lixian (John) Jiang from all
positions with the Company. Lixian (John) Jiang continues to be interested
in assisting the Company in an advisory capacity when the Company forms its
medical advisory committee.
David Stark, President and CEO of SCII, commented, "At this important point
in our Company's development, we welcome Dr. Han's leadership of our Board
of Directors. With his distinguished career in both the research and
treatment of incurable diseases through the use of stem cells, Dr. Han is
an excellent addition to our Board who will bring a valued perspective. He
is well respected within the medical community and his knowledge,
experience and leadership will contribute significantly to our Company, as
we navigate the merger between Histostem and Stem Cell Therapy with the
goal of growing our Company and increasing shareholder value."
"On another note, we thank John Jiang for his work on behalf of SCII and
wish him well in his future endeavors," Mr. Stark concluded.
"I am very pleased to have the opportunity to work with my fellow SCII
board members to transition the Company to its next level of
accomplishment," Dr. Hoon Han stated. "I believe my career experience as a
medical practitioner and researcher in the field of regenerative medicine
will position me to bring a unique perspective to the leadership of the
SCII board and I look forward to making a positive contribution towards the
Dr. Han is the President and Chief Executive Officer of HistoStem Co., Ltd.
where he established the first cord blood bank, the first bone marrow bank
and the first stem cell bank in Korea. Among his career highlights, Dr.
Han has successfully performed a bone marrow transplant between a father
and son; he has conducted research proving the existence of stem cells in
cord blood and he has developed a cure for intractable diseases, such as
Buerger's disease, using cord blood stem cells. Dr. Han holds a PhD and an
MD from the Catholic Medical University in Seoul, Korea, and he has served
as a research professor at the University of Southern California Los
Angeles, as well as at the Catholic Medical University. He is the Vice
President of the Institution of Medical Science, Catholic Medical
University; the Chairman of the Korea Society for Biomaterials and a member
and director of Experimental Hematology.
About Stem Cell Therapy International, Inc.
Stem Cell Therapy International, Inc. (OTCBB: SCII) is in the field of
regenerative medicine. SCII (soon to have its name changed to AmStem
Corporation) is a company devoted to the treatment of patients with stem
cell transplantation therapy as well as providing the supplies of
biological solutions containing new lines of stem cell products.
About AmStem International Corporation
AmStem International Corporation ("AmStem") is a new biotechnology company
based in Northern California, in the watershed of stem cell innovation
fueled by President Obama's recent announcement to lift Federal funding
limitations for stem cell research. AmStem provides biotherapeutic and
cosmetic stem cell products, stem cell collection and storage know-how, and
access to nanotechnology vital to cutting edge stem cell research. Its web
site is under construction at www.amsteminc.com.
About Histostem Co. Ltd.
Histostem was founded in Seoul, Korea in 2000, to date it has treated more
than 500 patients with stem cells and currently has approximately 50
full-time employees and several part-time employees. Histostem's
intellectual property portfolio consists of 6 patents that have been
granted and 5 patents pending. To its knowledge, Histostem is one of the
very few stem cell companies in the world currently earning several million
dollars in income from its products and technology. A comprehensive list of
Histostem's achievements can be found at the company's website
http://www.histostem.co.kr (click on English version when entering the
Some of the statements included in this press release, particularly those
anticipating future clinical and business prospects for Stem Cell Therapy
International, Inc., may be forward-looking statements that involve a
number of risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. Among the factors
that could cause our actual results to differ materially are the following:
our ability to obtain necessary capital, our ability to successfully
complete clinical trials and our ability to meet anticipated development
timelines, our ability to establish global market for the cord blood
cells, clinical trial results, successfully consummate future acquisitions,
manufacturing capabilities or other factors; and other risk factors
identified from time to time in our reports filed with the Securities and
Exchange Commission. Any forward-looking statements set forth in this press
release speak only as of the date of this press release. We do not intend
to update any of these forward-looking statements to reflect events or
circumstances that occur after the date hereof.